Annual increase of 7.9% of Index of Production in construction

An annual increase of 7.9% was recorded in the Index of Production in construction during the third quarter of 2023 compared to the previous year.

According to the Statistical Service, the Index of Production in Construction during the third quarter of 2023 reached 186.29 units (base year  2015=100,00), recording an increase of 7.9% over the third quarter of 2022. 

By type of project, an increase of 9.4% was observed for buildings and a marginal decrease of 0.3% for  civil engineering projects in the third quarter of 2023 compared to the corresponding quarter of 2022. 

Meanwhile, the Output Prices Index in Construction for the third quarter of 2023 reached 137.27 units (base year 2015=100,00), recording an increase of 1.7% over the second quarter of 2023.

Compared to the same quarter of the previous year, the index increased by 6.0%. By type of project, an increase of 1.2% was observed for buildings and of 24.3% for civil engineering projects in the third quarter of 2023 compared to the corresponding quarter of 2022.